How TFSA contribution room works
You get TFSA room for every year since 2009 in which you were 18 or older and a resident of Canada — even if you never opened an account. Unused room carries forward forever. CRA’s formula is:
Room = this year’s dollar limit + unused room from previous years + withdrawals made last year (contributions this year reduce it).
TFSA annual limits (CRA)
| Year | Annual limit | Cumulative |
|---|---|---|
| 2009 | $5,000 | $5,000 |
| 2010 | $5,000 | $10,000 |
| 2011 | $5,000 | $15,000 |
| 2012 | $5,000 | $20,000 |
| 2013 | $5,500 | $25,500 |
| 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 | $5,500 | $46,500 |
| 2017 | $5,500 | $52,000 |
| 2018 | $5,500 | $57,500 |
| 2019 | $6,000 | $63,500 |
| 2020 | $6,000 | $69,500 |
| 2021 | $6,000 | $75,500 |
| 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 | $7,000 | $95,000 |
| 2025 | $7,000 | $102,000 |
| 2026 | $7,000 | $109,000 |
| 2027 | Not yet announced by CRA (usually published in late November) | |
Someone who was 18 or older and resident in 2009 has $109,000 of total room by 2026 if they never contributed. The limit is the $5,000 base indexed to inflation and rounded to the nearest $500; CRA has not yet published the 2027 limit (as of 5 November 2026), so this calculator does not add it.
Withdrawals and over-contributions
A withdrawal is added back to your room on January 1 of the following year. If you contribute more than your room, you pay a tax of 1% per month on the highest excess amount in each month it stays in the account.
If you became a resident after age 18, enter the year you became resident; room does not build up for years you were not resident. Provinces where the age of majority is 19 still give room from age 18 — you can use it once you can open an account.
Related guides and examples
FAQ
How much TFSA room do I have if I never contributed?
If you were 18 or older and resident in Canada in 2009, $109,000 in 2026. If you turned 18 in 2013, it is $89,000 (2013–2026).
When do TFSA withdrawals get added back?
On January 1 of the next year. Money withdrawn in 2026 becomes new room on January 1, 2027.
What is the TFSA over-contribution penalty?
1% per month on the highest excess amount in the month. A $2,000 excess costs $20 for every month it stays in your TFSA.
What is the TFSA limit for 2027?
Not announced yet. CRA normally publishes it in late November; until then, plan with the $109,000 cumulative total to 2026.
Sources (checked 5 November 2026): Canada Revenue Agency – “MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE” (TFSA dollar limits 2009–2026; no 2027 figure listed) and “Calculate your TFSA contribution room” (canada.ca); CRA examples of tax payable on excess TFSA amounts; cross-checked with TaxTips.ca TFSA limits table.